Under normal circumstances, an ordinary person needs at least three bull markets to change their fate through speculation in the market.
In the first round, just entering the field, one can only achieve a preliminary understanding of this market, or even just scratch the surface, and cannot yet have a clear and correct understanding of the cycles and the laws of market operation. This round of bull market will most likely end with losses, and even if one has made money before, it cannot be retained.
In the second round, with the experience of the last time, you have witnessed the cruelty and terror of the market and can be considered an old player; you will become particularly cautious and no longer reckless. This is a double-edged sword; it protects you from pitfalls but may also bring you some biases leading to missed new narratives and concepts. In this round, although you won't lose much money, you will likely miss out on the most outstanding opportunities in the entire bull market.
The third round is truly your stage, because you have fully understood the market and cycles, have a complete system and strategy, and have begun to attempt counter-cyclical operations at the end of the cycle. You just need to fully believe in the experiences and lessons accumulated in the first two rounds, overcome weaknesses, control leverage, and not make the same mistakes as in the first two rounds. Being sensitive and brave enough towards the new concepts that appear in this bull market will likely lead to your own wealth in this round.
